Birks Group Inc. (NYSEAMERICAN:BGI) Short Interest Down 18.7% in June

Birks Group Inc. (NYSEAMERICAN:BGI) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 15,200 shares, a drop of 18.7% from the May 31st total of 18,700 shares. Based on an average daily volume of 10,700 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.6% of the company’s stock are short sold.

Birks Group Stock Up 1.2 %

Shares of NYSEAMERICAN BGI traded up $0.03 on Tuesday, reaching $2.62. 533 shares of the company’s stock traded hands, compared to its average volume of 11,725. Birks Group has a 12 month low of $2.07 and a 12 month high of $5.56.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Birks Group in a report on Monday. They set a “sell” rating on the stock.

Institutional Trading of Birks Group

An institutional investor recently raised its position in Birks Group stock. Ingalls & Snyder LLC raised its stake in shares of Birks Group Inc. (NYSEAMERICAN:BGI) by 70.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,000 shares of the company’s stock after buying an additional 7,000 shares during the quarter. Ingalls & Snyder LLC owned about 0.09% of Birks Group worth $80,000 at the end of the most recent quarter. 0.22% of the stock is currently owned by hedge funds and other institutional investors.

About Birks Group

Birks Group Inc designs, develops, manufactures, and retails fine jewelry, timepieces, sterling and plated silverware, and gifts in the United States and Canada. The company operates through two segments, Retail and Other. It offers various merchandise, including designer jewelry, diamonds, gemstone and precious metal jewelry, rings, wedding bands, earrings, bracelets, necklaces, precious gemstones, gold jewelry, and pearls.